Financial Facts

January 7, 2015

FinancialFacts

Dental, vision and long-term care benefits will qualify as excepted benefits under final IRS regulations. Excepted benefits are not subject to certain health reform requirements enacted as part of HIPPAA, P.L. 104-191 and the Patient Protection and Affordable Care Act, P.L. 111-148.  The final regulations do not address the issue of “wrap-around” coverage but the IRS said it intends to issue such guidance in the future.

The IRS has issued the 2015 optional standard mileage rates to calculate the deductible costs of operating an automobile.

They are:

  • 57.5 cents per mile for business miles
  • 23 cents per mile for medical or moving purposes
  • 14 cents per mile for charitable service

VACo Contact: Vicky Steinruck

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